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Q:

Goods  and  Services  Tax  likely  to  be  levied in India is not a

A) gross value tax B) value-added tax
C) consumption tax D) destination-based tax
 
Answer & Explanation Answer: A) gross value tax

Explanation:

GST  is  a  destination-based  tax,  it means   end   users   consuming   any goods or services is liable to pay the Goods  and  Services  Tax.  The  tax  is collected  by  the  State  in  which  the goods or services are consumed and not  by  the  state  in  which  goods  are manufactured    and    If    there    are exports,  the  seller  of  the  goods  or services  is  exempted  from  paying the tax. GST is a consumption-based tax,  it  means  the  state  where  the goods  were  consumed  will  receive GST   and   where   goods   were   sold should  not  get  any  taxes.GST  is  a value added tax as it is based on the increase  in  value  of  a  product  or service  at  each  stage  of  production or   distribution.GST   is   not   gross value tax.

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Filed Under: Indian Economy
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Q:

India was able to achieve the fiscal deficit target for the Financial Year 2016-17. It was how much percent of GDP?

A) 3.50% B) 4.20%
C) 3.00% D) 2.50%
 
Answer & Explanation Answer: A) 3.50%

Explanation:
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Q:

What was the Gross Domestic Product (GDP) for India in 2016-17 Financial Year?

A) 6.10% B) 7.10%
C) 8.10% D) 6.70%
 
Answer & Explanation Answer: B) 7.10%

Explanation:
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Q:

Which law states that bad money drives good money out of circulation?

A) Wagner's law B) Grimm's law
C) Gresham's law D) Keynes' law
 
Answer & Explanation Answer: C) Gresham's law

Explanation:
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Q:

Which one of the following oxides of Nitrogen is also known as Laughing Gas?

A) NO2 B) N2O5
C) NO D) N2O
 
Answer & Explanation Answer: D) N2O

Explanation:
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Filed Under: Chemistry
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Q:

After how much time the laws made by Parliament on the state subjects during a National Emergency become inoperative and cease to operate?

 

A) Three months B) Six months
C) Nine months D) Twelve months
 
Answer & Explanation Answer: B) Six months

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Filed Under: Indian Politics
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Q:

Which of the following can do more work?

A) A rotating wheel B) A moving bullet
C) A speeding stone D) A raised hammer
 
Answer & Explanation Answer: B) A moving bullet

Explanation:
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Filed Under: Physics
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Q:

A source maintains a current I in a resistor of resistor of resistance R. If V is the potential difference across the resistor. The electrical energy dissipated in the resistor in time is given _____

 

A) VI2t B) V2It
C) IR2t D) VIt
 
Answer & Explanation Answer: D) VIt

Explanation:
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